Cheap Insurance for a Nissan 370Z in Jersey City

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Discount Nissan 370Z insuranceIt's well known that auto insurance companies don't want policyholders to shop around. People who compare rates at least once a year will probably move their business because they have a good chance of finding a lower rate. A recent survey revealed that consumers who compared prices regularly saved over $72 a month as compared to drivers who never compared other company's rates.

If finding the best rates on car insurance is the reason you're here, then having a grasp of how to compare auto insurance can save time and money.

The best way we recommend to find affordable quotes for car insurance rates in Jersey City is to compare prices annually from insurance carriers in New Jersey.

  • First, try to learn a little about how your policy works and the steps you can take to keep rates down. Many things that result in higher rates such as distracted driving and a lousy credit rating can be amended by being financially responsible and driving safely.
  • Second, compare prices from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can give quotes from a single company like Progressive or Farmers Insurance, while independent agencies can give you price quotes from multiple sources.
  • Third, compare the new rates to your current policy premium and see if you can save money. If you find a better price, ensure coverage does not lapse between policies.
  • Fourth, provide notification to your current agent or company to cancel your current policy. Submit a down payment along with a completed application to your new company or agent. Immediately safely store the proof of insurance certificate with your registration paperwork.

One tip to remember is to make sure you're comparing identical deductibles and limits on every quote and and to get prices from as many car insurance companies as possible. This provides an apples-to-apples comparison and a complete selection of prices.

Rates and detailed analysis

The coverage information shown below covers a range of insurance rates for Nissan 370Z models. Being more informed about how insurance quotes are determined is important to be able to make smart buying decisions.

Nissan 370Z Insurance Rates in Jersey City, NJ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
370Z 2-Dr Coupe $364 $862 $522 $30 $156 $1,934 $161
370Z 2-Dr Roadster $406 $862 $462 $28 $138 $1,896 $158
370Z Touring 2-Dr Coupe $406 $974 $522 $30 $156 $2,088 $174
370Z Touring 2-Dr Roadster $406 $862 $462 $28 $138 $1,896 $158
370Z Nismo 2-Dr Coupe $406 $1088 $522 $30 $156 $2,202 $184
Get Your Own Custom Quote Go

Table data represents married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and New Jersey minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Table data does not factor in the specific area where the vehicle is garaged which can change price quotes significantly.

Policy deductible comparison

A question often asked by Jersey City drivers is how high should the deductibles for physical damage be. The tables below outline the price difference when you choose different deductibles. The first price estimate table uses a $100 physical damage coverage deductible and the second set of prices uses a $500 deductible.

Nissan 370Z insurance premium rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
370Z 2-Dr Coupe $466 $1014 $544 $32 $162 $2,243 $187
370Z 2-Dr Roadster $520 $1014 $480 $28 $144 $2,211 $184
370Z Touring 2-Dr Coupe $520 $1146 $544 $32 $162 $2,429 $202
370Z Touring 2-Dr Roadster $520 $1014 $480 $28 $144 $2,211 $184
370Z Nismo 2-Dr Coupe $520 $1280 $544 $32 $162 $2,563 $214
Get Your Own Custom Quote Go
Nissan 370Z insurance premium rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
370Z 2-Dr Coupe $340 $684 $544 $32 $162 $1,762 $147
370Z 2-Dr Roadster $380 $684 $480 $28 $144 $1,716 $143
370Z Touring 2-Dr Coupe $380 $774 $544 $32 $162 $1,892 $158
370Z Touring 2-Dr Roadster $380 $684 $480 $28 $144 $1,716 $143
370Z Nismo 2-Dr Coupe $380 $864 $544 $32 $162 $1,982 $165
Get Your Own Custom Quote Go

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, safe-driver, and multi-policy. Estimates do not factor in specific zip code location which can affect rates considerably.

Using the data above, we can ascertain that using a $100 deductible will cost you roughly $43 more each month or $516 a year than selecting the higher $500 deductible. Since the policyholder would be required to pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you tend to average more than 9 months between claims, you would more than likely save some money if you opt for a higher deductible.

How to calculate if a higher deductible is a good decision

Average monthly premium for $100 deductibles: $194
Average monthly premium for $500 deductibles (subtract): - $151
Monthly savings from raising deductible: $43
Difference between deductibles ($500 - $100): $400
Divide difference by monthly savings: $400 / $43
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 9 months

One important note is that raising deductibles to save money results in a higher out-of-pocket expense when you have a comprehensive or collision claim. That will require some savings in order to pay the higher deductible.

The chart below shows how choosing a deductible and can influence Nissan 370Z insurance prices for each different age category. The costs are based on a married female driver, comp and collision included, and no discounts are applied to the premium.

Safe drivers pay less for insurance

The chart below shows how speeding tickets and at-fault collisions impact Nissan 370Z insurance costs for different categories of driver ages. Data assumes a single female driver, full coverage, $250 deductibles, and no discounts are factored in.

Full coverage rates vs. liability-only

The chart below shows the difference between Nissan 370Z insurance prices with and without full coverage. The price estimates are based on a clean driving record, no at-fault accidents, $1,000 deductibles, marital status is single, and no other discounts are factored in.

Should you buy full coverage or liability only?

There is no specific rule to exclude physical damage coverage on your policy, but there is a guideline you can consider. If the annual cost of having full coverage is about 10% or more of replacement cost minus your deductible, then you may want to consider only buying liability coverage.

For example, let's say your Nissan 370Z replacement value is $3,000 and you have $1,000 deductibles. If your vehicle is destroyed, you would only receive $2,000 after you pay the deductible. If it's costing you more than $200 annually for comprehensive and collision coverage, then it could be time to drop full coverage.

There are a few cases where dropping full coverage is not financially feasible. If you still owe money on your vehicle, you are required to maintain full coverage as part of the loan conditions. Also, if you don't have enough money to buy a different vehicle if your current one is totaled, you should not consider dropping full coverage.

How Insurance Providers Calculate Nissan 370Z Insurance Premiums

Part of the insurance buying process is learning some of the elements that help determine your policy premiums. If you understand what influences your rates, this allows you to make educated decisions that may reward you with cheaper rates.

The factors shown below are some of the things used by insurance companies to determine rates.

  • Don't buy add-on coverages that may not be needed - Insurance policies have a lot of additional coverages that can waste your money on your 370Z policy. Coverages like rental car coverage, better glass coverage, and term life insurance are some examples. They may seem good when buying your policy, but now you might not need them so think about removing them and cutting costs.
  • Is insurance cheaper for men or women? - Over the last 30 years, statistics show females are less aggressive when driving. The data does not necessarily mean that men are worse drivers. Women and men cause at-fault accidents at about the same rate, but the men cause more damage. Men also get higher numbers of serious violations like driving under the influence (DUI).

    The information below illustrates the difference between Nissan 370Z premium costs for male and female drivers. The price estimates are based on no driving violations, no at-fault accidents, comprehensive and collision coverage, $100 deductibles, marital status is single, and no discounts are factored in.

  • Save money by having multiple policies - The majority of companies provide discounts to clients that buy multiple policies, otherwise known as a multi-policy discount. Discounts can be anywhere from five to ten percent in most cases. Even if you're getting this discount you may still want to comparison shop to guarantee you are still saving the most.There is a chance you can find lower rates by buying insurance from more than one company.
  • Premiums and job - Occupations like military personnel, architects, and medical professionals generally have the highest average rates in part from intense work requirements and lots of time spent at work. On the flip side, professions such as scientists, engineers and homemakers pay lower than average rates.
  • Nissan 370Z historical loss data - Insurers take into consideration historical loss data for every vehicle to calculate a rate that will offset losses. Models that the data shows to have higher number or severity of losses will have higher premium rates. The information below illustrates the historical insurance loss data for Nissan 370Z vehicles.

    For each type of coverage, the loss probability for all vehicles, regardless of make, model or trim level, is set at 100. Values that are below 100 mean the vehicle has better than average losses, while values that are above 100 point to more frequent losses or an increased probability of a larger loss.

    Nissan 370Z Insurance Claim Statistics
    Specific Nissan Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Nissan 370Z 2dr 164 88 132 91 88
    Nissan 370Z Convertible 129 73
    BETTER
    AVERAGE
    WORSE

    Empty fields indicate not enough data collected
    Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Jersey City auto insurance company ratings

Selecting the top insurance company can be difficult considering how many choices there are in New Jersey. The company ratings in the lists below may help you analyze which insurers you want to consider when shopping around.

Top 10 Jersey City Car Insurance Companies Overall

  1. Mercury Insurance
  2. The Hartford
  3. Progressive
  4. Travelers
  5. State Farm
  6. Farmers Insurance
  7. Safeco Insurance
  8. USAA
  9. GEICO
  10. 21st Century

Top 10 Jersey City Car Insurance Companies by A.M. Best Rank

  1. GEICO - A++
  2. Travelers - A++
  3. State Farm - A++
  4. USAA - A++
  5. Allstate - A+
  6. Nationwide - A+
  7. Mercury Insurance - A+
  8. Progressive - A+
  9. The Hartford - A+
  10. Esurance - A+

Compare. Compare. Compare.

In this article, we presented quite a bit of information on how to lower your Nissan 370Z insurance premium rates in Jersey City. The most important thing to understand is the more providers you compare, the higher your chance of finding cheaper Jersey City auto insurance quotes. You may even be surprised to find that the best price on insurance is with a small local company. Some small companies may cover specific market segments cheaper compared to the large companies like State Farm, GEICO and Nationwide.

Lower-priced insurance in Jersey City can be purchased on the web as well as from independent agents in Jersey City, and you need to comparison shop both to have the best chance of lowering rates. There are still a few companies who may not have online quoting and many times these regional insurance providers prefer to sell through independent insurance agencies.

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